Asana price target lowered to $12 from $18 at Scotiabank

Scotiabank lowered the firm’s price target on Asana (ASAN) to $12 from $18 and keeps a Sector Perform rating on the shares. The company’s growth acceleration now seems more distant, with management focusing on offsetting macro impacts, the analyst tells investors. Asana’s AI Studio continues to gain traction but is only going into general availability later this quarter and revenue contribution for the year is expected to be modest.